Buffett is right of course - but he was also right when he warned of derivative Armageddon and Wall Street didn't care because the money was too good. And he should know - because he stepped in to help during LongTerm Capital Mgmt's meltdown. You'd think the gov't would have learned a bit from that 1st example of overleveraged bailout. But then, the money was too good.
have you read jim cramers blog at cnbc ? He says bailout is good for economy and American homes. http://www.cnbc.com/id/26857498
The 700 is just for helping some companies to survive, not stopping of the falling house prices. Mr. Buffet has a self-interest. This solution is yet not a sure thing, not all Congress members are convinced that it's going to work. And Mr. Buffet said something like that is certainly an insult to some legislators as well as American people who voted for them.
Buffet, Icahn and other whales make plenty of mistakes. We all think we're right when we put a trade on or we would not have put the trade on. Buffet is chasing soverign money just like he did with PetroChina. He made good money on that one. There is a philosophy at the top of the food chain - the way to make money is to have people do things for you. Buffet is getting every American taxpayer to work for him on this one.
I have found that the truth normally lies at 180º to the original statement ... the rest is just subterfuge. regards f9
Cramer is for the bailout? There isn't a better reverse indicator. That's all the information I needed. I'm against.
Did he really use the word retards? If so, I just lost any respect I had for him. Activists will be all over that. http://answers.yahoo.com/question/index?qid=20080511175641AAE8ahQ
Gross & Buffett are financial predators. Of course they are talking their books. It would be naive to mistake their utterances to be anything other than protecting their self interests. Whether it is good or bad for America is irrelevant. These men smell blood and they know how to manipulate the media to help them score yet another home run.
I didn't get it. Where is the logic in Earth, unless we're living in Paradise, telling that we can artificially avoid recession.
If only the taxpayer would get similar terms as the Buffett the businessman. $5bn @ 10% preferreds $700bn @ uh, what's the donation rate these days??